Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0078%/8h= +8.6% APRpaid last 24h −0.022%

Price spread now: SunX against Kraken Futures+0.040%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$660.657% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.040%, 7d avg +0.016%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SunX is 0.024% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5146	0.0022	pay 0.0003% / 1h	13m 36s	$14.4M	$74.6M	50x
Short	SunX XRP-USDT	1.5152	0.0100	get 0.0100% / 8h	3h 13m	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee SunXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $16.47
Price spread: +0.040% → +0.016%: $2.39
Slippage, 4 orders: −$47.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$46.87
Costs to cover: 0.657%
Break-even: 26.9 days

Slippage from Kraken Futures: live order book, 6 min ago; SunX: live order book, 12 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 6 min ago	2.64 bp	7.6 bp −$8	10.8 bp −$108	22.1 bp −$2,209	43.0 bp −$21.5K
Sell SunX live order book, 12 min ago	16.30 bp	27.9 bp −$28	35.1 bp −$351	doesn't fit	doesn't fit

XRP on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff XRP-PERP	−0.0080%	1h	1.5160	+0.092%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5149	+0.020%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5144	−0.015%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5148	+0.012%	$7.7M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0022%	1h	1.5146	long leg	$14.4M	$74.6M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.733%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5144	−0.015%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5150	+0.028%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5149	+0.019%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5149	+0.019%	$9K	$351K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5148	+0.016%	$975K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5144	−0.014%	$39.0M	$85.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5149	+0.019%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5147	+0.006%	$533.9M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5147	+0.006%	$344.4M	$945.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5151	+0.032%	$125.8M	$884.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5148	+0.012%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	+0.052%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.121%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5151	+0.032%	$372.1M	$157.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5145	−0.007%	$298.0M	$907.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5148	+0.013%	$109.2M	$178.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5152	+0.039%	$269.1M	$390.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5152	+0.039%	—	$127.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	+0.031%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5166	+0.134%	$659K	$110.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5154	+0.054%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5169	+0.151%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	+0.030%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5152	+0.039%	$45K	$479K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5147	+0.006%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5145	−0.007%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5145	−0.004%	$815K	$72K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5152	+0.040%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5145	−0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5152	+0.040%	$49.5M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5148	+0.012%	$53.9M	$31.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5149	+0.021%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5144	−0.013%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5143	−0.018%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5151	+0.032%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5153	+0.045%	$5.7M	$48.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5148	+0.014%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5156	+0.065%	$24.2M	$75.7M	125x	as long as short
Kalshi KXXRPPERP	+0.0233%	8h	1.5156	+0.065%	$1.9M	$35.3M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0249%	1h	1.5156	+0.065%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5163	+0.112%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5154	+0.055%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0404%	1h	1.5165	+0.125%	$297.8M	$251.6M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	+0.092%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0648%	1h	1.5166	+0.130%	$2K	$15K	10x	as long as short